Nova R Wealth Inc. Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Nova R Wealth Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) during the first quarter, HoldingsChannel.com reports. The fund bought 962 shares of the social networking company’s stock, valued at approximately $467,000.

Several other hedge funds have also recently added to or reduced their stakes in META. Baird Financial Group Inc. boosted its position in Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after buying an additional 163,067 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after buying an additional 51,900 shares in the last quarter. Donoghue Forlines LLC raised its holdings in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP grew its holdings in Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.8 %

Shares of NASDAQ:META traded up $4.13 during trading on Monday, hitting $498.91. 13,510,753 shares of the company were exchanged, compared to its average volume of 16,601,334. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.30 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $478.58 and a two-hundred day moving average price of $450.54.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,493 shares of Meta Platforms stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $492.14, for a total transaction of $15,498,965.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $492.14, for a total transaction of $15,498,965.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $505.29, for a total transaction of $295,594.65. Following the completion of the transaction, the insider now owns 39,568 shares in the company, valued at approximately $19,993,314.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 238,223 shares of company stock worth $115,501,591. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 5th. Jefferies Financial Group cut their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus lifted their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Wells Fargo & Company reduced their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, UBS Group cut their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $510.05.

Get Our Latest Stock Report on META

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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